To set up an LLC (Limited Liability Corporation) in New York, you must be published. Why is this necessary? You are a business, not a professor or a doctoral candidate. Why should each early stage company pay $2,000 to publish that it exists in a tombstone ad in an obscure newspaper? It almost seems like this a way to keep struggling print newspapers a steady trickle of income.
The LLC publication requirement puts New York at a disadvantage to Silicon Valley and Route 128 in attracting new tech companies to form in New York. Not only tech companies but any entrepreneur-from cupcake bakeries to fashion designers. The LLC publication requirement robs New York of jobs in one of the largest sectors of the economy, companies that employ five or fewer employees. The LLC publication requirement amounts to a government subsidy to certain publishing companies at the expense of early stage companies. The LLC publication requirement has no practical reason, when any company that forms in New York can be found on the New York Department of State website. It is time for New York to abolish this obsolete bureaucratic practice and support our burgeoning entrepreneurial community. Sign the petition here: http://www.nytm.org/why-2k
Today is an excellent time for this advocacy since March 29 is National Mom and Pop Business Owners Day. According to Fast Company, 70% of United States Commerce comes from small businesses.